S&P Global/CIPS UK Composite Purchasing Managers' Index 50.7 Vs. 52.4 Est.; 52.8 Prior
Portfolio Pulse from Benzinga Newsdesk
The S&P Global/CIPS UK Composite Purchasing Managers' Index (PMI) has dropped to 50.7, lower than the estimated 52.4 and the prior 52.8. This indicates a slowdown in the UK's economic activity.
July 24, 2023 | 8:33 am
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The drop in the UK's PMI could potentially impact the performance of the iShares MSCI United Kingdom ETF (EWU), which tracks the UK's market.
The PMI is a measure of the economic health of the manufacturing sector. A drop in the PMI indicates a slowdown in economic activity, which could negatively impact the performance of the EWU ETF that tracks the UK's market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80